School budget on the rise

[news]

School budget 5 percent larger than last year's.

Increases in the amount paid for employee benefits and in tuition to send students to Princeton High School is driving this year's proposed school budget increase.

The Board of Education introduced a $16.7 million budget Tuesday that is 5 percent larger than last year's $14.8 million plan. The budget calls for $6 million to cover salaries and wages, up from $5.8 million in 2006, and $4.1 million to cover the cost of 253 regular students and 12 special education students attending Princeton High School. The plan also includes $1.8 million for employee benefits and $910,236 to cover debt service.

Voters will get their say on the plan during school elections April 17 at Town Hall. A public hearing is scheduled for 7 p.m. March 27 in the Large Group Room at Cranbury School.

The amount to be raised by taxes is $15.5 million.

If the budget is approved by voters, the school tax rate would be 81.33 cents per $100 of assessed value. At that rate, the owner of a house assessed at the new township average of $673,000 would pay $5,474 in school taxes in 2007.

It is difficult, however, to compare that rate with last year's because the township property revaluation increased the value of all property in the township and drove down the tax rate. Under the revaluation, the average residential assessment increased from $219,439 to $673,176.
...

(more)